Parents are Paying £2bn to Support Kids Motoring
Parents are collectively spending more than £2 billion just helping their kids get on the road for the first time.
Research from garage chain Kwik Fit has revealed that 59% of parents help their kids aged 17-25 to cover the cost of their first car, spending an average of £381 per parent. Mums spend the most, at £396 per year, compared to dads’ £367 contribution.
Astonishingly, 43% of parents contribute to their 26-30-year-old children’s motoring costs, while more than a third (36%) even still shell out for part of the bill even though their kids are aged 31-35.
A generous 9% say they spend more than £1,000 every year on motoring costs for their offspring.
Almost half of the parents surveyed (49%) said they helped financially because their kids could not afford it themselves, while 35% said it was to ensure their kids were driving a more modern, safer car.
Kwik Fit is supporting a campaign to reduce the number of accidents among young drivers. Called the ‘New to the Road’ campaign, it offers youngsters the change to win a year’s motoring costs (excluding fuel and road tax) and aims to educate drivers about ways to stay safe while keeping bills low. In a statement Kwik Fit said: “New to the Road supporters Kwik Fit Insurance will provide a year’s insurance cover; Goodyear, a new set of tyres; Kwik Fit will provide servicing and an MOT, and RED Driving School will offer up to 20 hours of free driving lessons or advanced driver training.”
Roger Griggs, communications director at Kwik Fit, said: “Becoming a motorist and passing the driving test is exciting, but it can also be expensive. There’s often a temptation to cut corners to help bring costs down but this is likely to be at the expense of safety, so it’s good to see parents are keen to help cover these costs. “We know that motoring costs can be a burden, particularly for new road users, so we’re offering advice to help make these costs more manageable. And we would encourage any driver who is new to the road to enter the competition to win their motoring costs for a year.”